Equity Brief · Industrials2026-10-27
ALPJT.PA·Industrials

Poujoulat SA

I · AI Analysis

The brief

Poujoulat manufactures and sells stainless steel chimney systems, roof outlets, ventilation ducts, and smoke extraction equipment for homes, apartment buildings, and industrial facilities across France and internationally [Yahoo Finance]. The company serves both new construction and renovation markets, offering products ranging from basic chimney flues to complex ventilation systems for collective buildings and commercial applications [Yahoo Finance].

Poujoulat SA is a French manufacturer of stainless steel chimney flues and ventilation products for residential, commercial, and industrial buildings, founded in 1950 and employing approximately 1,564 people [Yahoo Finance]. The company generated EUR 352.5 million in trailing-twelve-month revenue through 31 March 2026, but reported a net loss with a negative 1.1% net margin [Yahoo Finance]. With a market capitalisation of just EUR 40.8 million and net debt at 8.6 times EBITDA, the company faces significant financial stress [Yahoo Finance, Sentinellis calculation].

The company is under severe financial pressure, with a trailing net loss, extremely high leverage, and a Health Score of 4.7/10 indicating moderate concerns [Yahoo Finance, Sentinellis calculation].

The brief AI analysisConfidence 6/10

Sentinellis health

Moderate concerns

4.7/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

16% of score3.3/10
Net margin-1.1%· need ≥ 2.5%, the lower third of building & construction in our libraryGross margin+49.4%

Returns on capital

16% of score0.0/10
ROIC+1.8%· need > 10%Return on equity-3.1%· need > 12%

Growth & momentum

11% of score10.0/10
Revenue growth+4.4%Operating margin trend—· no data

Balance sheet

32% of score5.0/10
Current ratio1.9xNet debt / EBITDA8.6x· need < 3.0xInterest coverage1.9x· need > 6.0xDebt / equity0.90

Cash generation

16% of score10.0/10
Free cash flowEUR 11.7MCash vs reported profitEUR 32.0M vs EUR 1.7M

Value creation

11% of score0.0/10
ROIC vs cost of capital-1.3pp· need ROIC above WACC

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

EUR 40.8M

Revenue (TTM)

EUR 352.5M

Explainers

How we read these numbers

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Net debt at 8.6 times EBITDA is far above sustainable levels for an industrial company, creating acute refinancing risk and leaving little room for operating setbacks [Sentinellis calculation].

1 of 8 risks in this report

Risks

8

Opportunities

6

Red flags

2

Leadership

6

15 more findings in the full report — free with any account.

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Produced 27 Oct 2026, 10:54 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated